S Corp vs LLC: Tax Advantages and Compliance Insights

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In this video, we'll be discussing the pros and cons of being an S Corporation versus an LLC. We'll explore the benefits of an S Corp business structure, including the potential for lower self-employment taxes. However, we'll also touch on some of the disadvantages of an S Corp, such as more strict regulations.

Next, we'll dive into the LLC, or Limited Liability Company. We'll highlight the flexibility of this structure, as well as the personal liability protection it provides for owners. On the flip side, we'll also discuss some of the drawbacks of an LLC, such as potentially higher taxes.

So, whether you're just starting a business or considering a business structure change, this video is the perfect guide to help you understand the pros and cons of being an S Corporation versus an LLC. Tune in to make an informed decision for your business!

Wondering if S Corp is right for your business? Grab your S Corp Toolbox:

00:00 Introduction & Background
03:48 Pros of LLC
05:07 Cons of LLC
06:51 Pros of S Corp
10:14 Cons of S Corp

Other Videos where I talk about S Corps

Blogs Where I Talk About S Corps

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**DISCLAIMER: This video is meant for educational purposes only. This is not to be relied on or considered a substitute for advice on your specific situation from your tax advisor.

Note: There may be affiliate links in this description or video. We do not actively monitor comments on these threads.
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Apart from a favourite CPA, you’re also a breath of fresh air!

AccountingEducation
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Wow. You're fantastic. Thanks for the lesson.

bry
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Jamie you Rock 👍 as a teacher of business CPA 🌺

claudiagarciacabrera-prant
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If I realize being an S-corp is not a good idea, can I go back to being a LLC without the S-Corp status? And if I have independent contractors, how would they be impacted if I switched back to an LLC (non S-corp)?

adamsassociates-insurances
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Great info as always. Thanks for all you do!

kimrojas